This chart presents a range-bound price action within an ascending channel and offers two potential breakout trade opportunities depending on price direction.
🔍 Chart Summary:
> Current Price: Around 3326-3328
> Pattern: Ascending channel
> Bias: Neutral (waiting for breakout)
📊 Channel Analysis:
> Price is moving inside an ascending channel, marked by two parallel trendlines (support and resistance).
> This suggests gradual bullish pressure, but the price is still within a consolidation/ranging structure.
> Buyers and sellers are currently indecisive, waiting for a clear breakout direction.
🧠 Trade Scenarios:
✅ Buy Setup:
: Condition: Breakout above the upper channel resistance
: Confirmation: Break and close above channel, ideally with strong bullish candles and volume
: Target: 3370 (marked as TP1 for buy trade)
> Reasoning: Breakout confirms buyer dominance and momentum continuation
❌ Sell Setup:
: Condition: Breakdown below the lower channel support
: Confirmation: Break and close below the channel with a bearish engulfing or volume spike
: Target: 3300 (marked as TP for sell trade)
> Reasoning: Break below structure indicates loss of buyer control and return of bearish trend
⚠️ Key Notes:
: The ascending channel suggests short-term bullish strength, but no strong trend has been confirmed yet.
: Avoid entering within the channel—this is a no-trade zone due to market indecision.
: Wait for confirmation of breakout/breakdown before entering trades.
✅ Conclusion:
> The price is currently in a rising consolidation channel.
> Breakout above = buy opportunity toward 3370
> Breakdown below = sell opportunity toward 3300
This is a classic wait-for-breakout setup—ideal for breakout traders looking for defined risk and reward zones.
🔍 Chart Summary:
> Current Price: Around 3326-3328
> Pattern: Ascending channel
> Bias: Neutral (waiting for breakout)
📊 Channel Analysis:
> Price is moving inside an ascending channel, marked by two parallel trendlines (support and resistance).
> This suggests gradual bullish pressure, but the price is still within a consolidation/ranging structure.
> Buyers and sellers are currently indecisive, waiting for a clear breakout direction.
🧠 Trade Scenarios:
✅ Buy Setup:
: Condition: Breakout above the upper channel resistance
: Confirmation: Break and close above channel, ideally with strong bullish candles and volume
: Target: 3370 (marked as TP1 for buy trade)
> Reasoning: Breakout confirms buyer dominance and momentum continuation
❌ Sell Setup:
: Condition: Breakdown below the lower channel support
: Confirmation: Break and close below the channel with a bearish engulfing or volume spike
: Target: 3300 (marked as TP for sell trade)
> Reasoning: Break below structure indicates loss of buyer control and return of bearish trend
⚠️ Key Notes:
: The ascending channel suggests short-term bullish strength, but no strong trend has been confirmed yet.
: Avoid entering within the channel—this is a no-trade zone due to market indecision.
: Wait for confirmation of breakout/breakdown before entering trades.
✅ Conclusion:
> The price is currently in a rising consolidation channel.
> Breakout above = buy opportunity toward 3370
> Breakdown below = sell opportunity toward 3300
This is a classic wait-for-breakout setup—ideal for breakout traders looking for defined risk and reward zones.
Trade active
Congrats as we analyzed after breaking the channel our Sell Setup went successfully and we achieved our target one.Note
Target achieved we can still see more bearish move now our 2nd target is 3280 Trade closed: target reached
Congrats, target achieved. Thank you
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t.me/GoldenpipsFXtrader
t.me/GoldenpipsFXtrader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Thank you for visiting us! Join us for more trading insights and signals.
t.me/GoldenpipsFXtrader
t.me/GoldenpipsFXtrader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.